Triaconta Weekly #287

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Revision

Bundle performance
Bitcoin is rising above $50,000 for the first time in two years and now has a market value above $1 trillion ( = $1,000,000,000,000,000). This will wake up many new investors (FOMO!) and so new buyers will enter the market. However, profits will also be taken. History tells us that many of these profits will be passed on to altcoins. This, in turn, would mean that the Bitcoin price will go sideways up and down around $50,000 for a few weeks and it is precisely the Bundles that will benefit substantially.

Unfortunately, historical trends do not provide certainty because the market has become so very different and Bitcoin dominates the news. Institutions are big Bitcoin buyers now but could of course become big sellers one day. For other currencies, there is no American ETF yet. There are, however, applications before the SEC for Ethereum and XRP, not very coincidentally the other members of the Big 3 bundle.

In any case, the standard bundles are already showing fine results this week and will soon be brought back in line with market developments with a revision. Detailed information on the revisions can be found later in this newsletter.

Big3:
1 Month: +14.64% | 7D: +11.98% | 24H: +0.79%

Top30:
1 Month: +11.32% | 7D: +12.85% | 24H: +1.84%

Penny:
1 Month: +18.85% | 7D: +21.52% | 24H: +4.54%

DeFi:
1 Month: +12.45% | 7D: +15.76% | 24H: +0.31%

Bitcoin halving countdown: 62 days. This figure is a weekly new estimate based on the current blockchain hashrate.

Winners & Losers

VeChain (+60%) has had a blockchain update that enables smart contracts and people are getting very excited about that. Stacks (+46%) is still doing incredibly well as long as Bitcoin is doing well. Furthermore, we see gains of 10-20% in altcoins everywhere. Notable stragglers are Litecoin (-3%) and Injective (-2%).

Revision

The crypto market is constantly changing and Triaconta is therefore changing the composition of its standard bundles next week. If you have selected automatic revision on your bundle, the changes below will also be applied to your bundle. Stay current without any fuss and turn on automatic revision on your bundle too.

What a good time to add some Optimism (OP) to the Top 30 Bundle. However, the coin’s name does not refer to a positive outlook on price trends but is a technical feature that allows this blockchain to securely process cheap and lightning-fast Ethereum L2 transactions. Also new to the Top 30 is Injective (INJ) with the best and fastest Web3 applications, which already proved to be a fantastic addition to the DeFi bundle since October last year (+400%). To make way, Maker (+50% since revision October ’23) and Quant (-4% since December ’22) disappear.

In the DeFi bundle, Synthetix (+47% since revision August ’23) makes way for a Thorchain (RUNE) that now allows decentralised swapping between Bitcoin, Ethereum, BNB Chain, Avalanche, Cosmos Hub, Dogecoin, Bitcoin Cash & Litecoin. The market value of Thorchain increases when there is more trading volume and we certainly expect that in the near future.

The PennyStock bundle will unfortunately lose little from the departure of JasmyCoin (-81% since April ’22) as the market no longer believes in this project. We are replacing the coin in this bundle with Stellar Lumens (XLM). Although the project shows negative returns so far for 2024, we think this project has reached a turning point. The phased rollout of smart contracts functionality, which is set to begin very soon, is a crucial moment in the evolution of this network. That this could have major implications for the price can be observed with VeChain although that project has a very different target audience

Holiday plans?
If you think El Salvador might be a bit far away to spend your Bitcoin, check out Torrevieja, a tourist hotspot near Spain’s Alicante. On 6 February, very exciting crypto plans were announced here. The town wants to become a crypto hub and is starting to allow shops to accept crypto payments as part of an “ambitious digital transformation project”, according to the words of Torrevieja’s administration. Local businesses can also take advantage of courses on digital assets, offered by the University of Alicante. Paying with crypto has been legal since 2015 but has not been highlighted in this way until now.